Evening Star Newspaper, September 26, 1930, Page 13

FINANCIAL, INCOME DECLINES Heat ‘Wave Declared Re- sponsible for Drop in Net Earnings. BY EDWARD C. STONE. Intense heat struck a severe blow to the. sarnings of the Washington Gas Light; Co. in August, according to the finaneial statement just fifed with the Public Utilities Commission. ‘The total net income for the month | was cut down to $2820.19, comj 1 with $21,630.54 in_ August, 1929. The} reduction was largely due to the dif- ference in the amount of gas sold dur- ing the month, sales totaling $325- 154.79, ‘coffipar®d ' with‘ $34523048 a| year ago. : Operating revenues for' the month smaunted to $337,169.78, against $354.- 07028 in August of lsst year. Oper- ating expenses required $263,725.52, in comparison with the cansiderably lower figure lagt year of $252,576.39. Total revenue deduction were $277.- 360.59, compared with $275891.87 in the same month in 1929. These deduc- tions left a total operating revenue of $59.800.19, against $78,178.41. Miscellaneous revenues were also off during the month, total non-operating income amounting to $2,459.68, against $3,582.20. Gross corporate income was $62,259.87, compared with the higher figure a year ago of $81.760.61. Thus the above-mentioned drop of £19,210.35 in.net income is laid to two factors— & decline in operating revenues and an increase in operating expenses. Eight Months’ Net Compared. ‘The Washington Gas Light Co. also filed the financial statement “for the first eight months of 1930. - Operating nvenuuu :‘nmnw . wmu.sox,m&g. against $3,751,061.10 in correspond- ing period of last year. Operating expenses in this period took $2411914.11, in comparison with $2.435,743.60. The company had a total operating income of $1,056,409.05, against $1,084,218.50 in the correspond- ing eight months last year. Total deductions from gross income required $49152387, compared with $485.954.28 in 1929. After all the usual deductions, the company had a total ;‘;oto :z_:fio:e for tthe‘ aeight months of ,671.94, agains 19,609.83 in 1929, MJ.Imd of $38,937.89. uly anc August are aiways the poor- est months in the year for gas earnings, due to the warm weather and the vaca- tion perlods. It is also safe to say that September is unlikely to break any earnings record, elther, considering the temperature that has prevailed nearly Georgetown Gas Repéit Filed. mmgeomtom Gas Co. has also filed August statement with Public Utilities Commission. = ing revenues totaled $58,874.92, $56295.21 a year ago. Operating penses amounted to $48,369.99, in com- parison with $44,801.50 last year. Total revenue deductions claimed $50,398.76, against $47,955.80 in August, 1930, leaving & net operating income of $8476.16, compared with $8,339.41. After all deductions f in the N York .sfock . mari lew Yorl ket and the Chicago grain pit.. Some of the city’s most conservative financiers be- lieve that if the governors of these two rful mc:‘l‘lnot check bear le markets, Con- in and enact some - tion that will be far more drastic than New York or Chicago want. “Why should a group of grain specu- $awrs be permitted to ‘sell. short’ - of bushels of wheat which they €o not own and break the price until the farmer who raises the grain can't make a living?” one local’ banker asked today. “Or why should & ecrowd New Vork Stock Market traders be per- miited, through bear raids, to sell something they do not own and break fim ot:nhovllue‘ ‘l:lfdshch held by mil- lons, ustrious investors?” he added. i is expected to come up for discus- sion at the Cleveland convention of the A. B. A. Fishburn Elected Direcfor. Junius P. Pishburn of Roanoke, Va., has been elected a director of the U. 8. Chamber of Commerce to sycceed W. M. Wiley of Sharples, W. Va, who has been made vice president for the South- eastern division. Mr. Pishbum will Tepresent district three, whieh includes Maryland, the District of Columbia, ‘Virginia, West Virginia and North Car- olina. ‘The new director, who Was proposed by the Virginia State Chamber of Com- merce, of which he is a past president, is president of the Times-World Cor- tion, publisher of the Roanoke es and Roanoke World-News. He is a member of the Virginia State ission on Conservation and De- velopment, a director of the Federal Reserve Bank of Richmond, a director of the Old Dominion Fire Insurance Co. and a director of the Virginia Bridge & Iron Co. Trading Quiet on Exchange. ‘Ten shares of Security Savings & | Commercial Bank stock sold at 475 on the Washington Stock Exchange today, in a quiet session. Potomac Electric Power 51, per cent preferred figured in & 30-share turnover at 1083, while the 6 per cent preferred again sold at 111. Merchants Transfer & Storage common opened at 104 and closed at 103. Bond trading was limited to the sale of $1,000 Potomac Electric Consolidated 5s at 102% and $500 Washington Gas 6s, series B, at 106. The unlisted stocks ‘were called off and very few changes noted during the week. Heard in Financial District. Miss Alice Whitton of the First Na- tional Bank of Alexsndria, Va. ad- dressed the dinner meeting of the Washington Bank Women's Club at the Huguenot last night. She described her Tecent trip abroad. Miss Mabel V. Royee of the Washington Loan & Trust mblnbl ‘Willard, president of the Bal- timore & Ohio Rallroad, and M. Shriver, a vice president, have been suthorized by the Interstate Commerce ‘Commission to hold directorships of the Buffalo & Susquehanna Railroad. American exports of footwear in Au- gust registered an increase of 117 per cent, compared with July, at a season when such exports normally drop off, the Commerce Department announces. Atlanta, - has been selected by the board of directors of the Na- tional Chamber of Commerce as the ghu for its next meeting, November 1-22. This decision was reached in . NEW YORK STOCK EXCHANGE - Received by Privale Wire Direct to The Star Office. Note—All stocks are sold in ome hi exel eptiing ~Prev.1930- High. Low. 424 8614 66 Ajax Rubber. s Al & Allis Chalmers (3) those the designated shows those stoeks to l:'-ll in Sales— Add 00. HI?‘I. Stock and Dividend Rat Abitibl Pow & Paper, 2 Abitibi P& P pf (6).. 7 Abraham Stra 1 Adams Exp ( Adams Exp pf (5 Adams Millis (2) Addressogr'ph (1 o n ( y Air Way El Ap (1%) BulenBuans ka Juneau. Al y Wrap Paj Allegheny Corp. Alleg Cp $40.-ww Alleg Cp $30 xw 53 ., Allegheny Stl(12.55) Allied Ch & Dy (n6) g I » hAh-u T4 Alpha Port Cmt (2) Amerada Corp (2) Am Agricul Chem Am Agricul Ch pf. Am Bank Note (1! Am Beet Sugar Am Bosch Mag: Am Br Shoe ( Am Brown Bov Elec, 4 Am Brown B E pf (7)170s Am Can (4) Am Encaustie (1) Am European Secur. Am & For Power. Am & For Pw pf ( i Am & For Pw pf (7). Am & For Pow 24 pf. Am Hawaiian (a10). % Am Hide & Leather Am Hide & Leath pf. Am Home Pr (4.20)., Am Ice (14).. %« Am Internatl (2) Am Locomotive (. Am Locomot pf (7) Am Mch & Fdy Con AmMach & Metals. Am Metal Co (1%)... Am Nat Gas pf (7). Am News (jt4) Am Pow & Lt (11 Am Pow &Lt pf (8). Am P & L pf A st (5) Am R & St San (13%) Am Rad & S8 pf (7). Am Republics. . Am Roll Mill (n2)... Am Safety Razor (5) Am Ship & Com. .... Am Sm & Ref (4)... Am Sm & Ref pf (6). Am Sm & Ref pt (7). Am Solv & Chem Am Steel Fdy (3) Am Stores (2)....... Am Sugar Ref (5). Am Sumatra Tob Am Tel & Tel (9) Am Tobacco. .. Am Tobacco (B).... Am Tobacco pt (6) Am Type Fdry (8). % Am Water Wks (n1). Am Woolen Am Woolen pf. Am Writ Paper ctf: % Am Zine Lead & Sm. 104% Baldwin Anaconda Cop (2%). Anaconda W & C (1). Anchor Cap (2.40). Andes Copper (1). Archer-Dan Archer-Dan pf (7)... 1 Armour of Del pf (7) Armour of 1]l (A). Armour of 1l (B). Asso App! Ind (4). Asso Dry G (2%) Ass0 D G 18t pf (i Atch To & S Fe (10). Atch To'& S F pf (5), Atl Coast Line(110). At Refining (12). Atlas Stores. (n1) Atias Tack.. Auburn Auto '(44). .. Austrian Cred (3.82). Austin Nichols. Austin Nich pr A (3) Autosales. . . Auto Strap Saf R(3) Aviation Corp of Del Baldwin Loco (1% o0 pt (1 Baito & Ohfo (7). Blaw-Knox (1) Bloomingdale Bros. Bloomingdale pf (7). Bohn Alum&Br(1%) Borden Co (k3) Borg Warner (3).. Briggs Mfg Co. Brockway Mot Brockway Mot pt (7) Bklyn-Man Tr (4) 1n Bklyn-Man Tr pf () Bklyn & Quee; Bklyn Union Gas (5) Bruns-Balk-Col. .... Bruns Ter & Ry Buoy: ). Bueyrus pf (7). Buecyrusev pf (2%). Budd (EG) (1) Budd Wheel (1). Bullard Co. Bulova Watch (3). Burns Bros (B) Burr Add Mach (1) 4 Bush Terminal (2%) 112% 1% 60% 2% T 89% 48% 33% 10% 30 17 5% 56 226% 165% 521 . 40% 344 20 28% 13 96 86% 362% 142'5 79% 20 12'% 60 9 12 10% 315 228 8% 3% 65% 38% 16% 51% Bush Term deb (7).. Butte Cop & Z (50c). Butterick Co, Byers (AM)...... Calif Packing (4).. Callahan Zinc & L4.. Calumet & Arizona Calumet & Hecla. ... Campbell Wyant (2). Canada Dry G A (5)., Canadian Paclf (10). Can Pacific new..... Cannan Mills (1.60).. Capital Admin (A).. Car Clin & Ohfo (4) Case (J 1) (6)....... terpil Tr (13%). Celanese Corp. Celotex Co. .. Celotex voting ctfs Cent RR of NJ (112). Century Rib Mills. Cerro de Pasco (6) Certain-teed Prod. Checker Cab (4.20) Ches & Ohlo (2%)... 4 Chesapeake Corp (3) Chic & Alton. ..... Chic & Alton pf. Chic Great Western. Chic Great West pf. . 4 Chic Mil 5t P & Paa. . 4 Chic MilSt P& Ppf. Chicago & N W (5) Chie Paeu Tool. ... . Chi Pneu T pf (3%). Chic R 1 & Pac (7)... Chi YeliowCab (3) Childs Co (2.40). . Chrysler Corp (3). City Ioe & F (k3.60), Clty Ice & F pf (634) City Stores (50¢). ... Clev & Pitts sp (2) Colgate-Pal-P (234), Collins & Atkmal Colonial Beacon.,... Col Fuel & Iron (2).. Colo & South (3) Col Gas & El (2) " Col Gas & El pf A (8) 4 Colum Graph (a%).. Celumbian Carb (+6) Kk Comm Credit (2).. Comm Credit A (3) Comm C 1st xw (8%) Com In Tr (g1 . Comm Solvents (31) 12% Comwith & o (60¢c). 1 6715 Low. 16% 61% 42 24% 2% 25 314 7 23 b 108, 12 Close. 16% 61% 42 24% 2% 25 314 T 23 % 109% 12 425 5 121% 15% 4 119% 150% 9214 10 204 57 31% 31% 39 90y 351 6 221 72% 53 2% 106 89 23% 143 15 45% 61% 1% 52% 102 135 bl 34 454 46 10% 205% 116% 119% 127% 127% | 119% 93% 9% 109% 108% | 0% 195, 107% 4 25 44% 81 129 31y 26 118% undred-share_fots letter s (80s) (2508) odd lots only. Prev. Close. » m 12 1 5 9% 18% 20 84% 2t 122 17 6% 128% 150 91% 12 19% 58 31% 2% 39 90 36% 64 25 73 54% 73 106 89 23% 143 15 464 62 1% 547 101% 139 L3 354 46% 48 10% 206% 119 121% 120% 94 10 254 5 707 20% 109 4 26% 445 82% 128% 3% 25 119% ~Prev.1930~ High. bol' 27% 40% 111% 151 3 35% 20% 22 595 18 93 655% 48 14% 19% 9014 43% 123 105 2554 37% 62 114% 110% 9% 103% 102 112 9% 59% 50% 635 62% 43% 30% 9% 39% 50% 2T% 80 98Y 125 25% . 43 38 B9% 100% 334 877 61% 515 21 21% 507 34 15 15w | 120 s gl a8 21 118% 334 109 2 13% 613 21% 115% 33% 109'% 2 143 624 2 464 98% 38 23% 86 47% 2% 20 84 17% 928, 85 109 108% 26% 41% 12% 80 29 116% 41% 53% 62% 26% 136% 32 17 Stock snd » Sales— Dividend Rate. Add 00. High. Low. 6 17% 16% Consol Film (2). Consol Film pf Consol Gas N Y (4) Co C Container A ( Container B Contl Baking A Contl Baking B Contl Baking pf (8). Contl Can 2%)... Contl Dia Fibre (1) Cont] Insur ( Corn Prod pf (1). Coty Ine. Cr of W Crex Carpet Crosley Radio ) Crown Zeller8'ch (1) Cructble Steel (k5).. Crucible Steel of (7 Cuba Cane Prod. CubaCo....ouuun Cuban-Amer Sugar. ., Cuban-Amer Sug pf. . Cudahy Packing (4). Curtiss Wright Corp. Curtiss Wr Corp A. . Cutler-Ham (33%). Davison Chemical Delaware & Hud ( Del Lack & Wn (17). Detroit Edison (8)... Devoe & R A (1.20) Devoe & R 1st pf (7 Diamond Match (8) Dome Mines (1), Dom Stores (11.20).. Drug Corporat (4)... 4 Dunhill Int (1)..... Duplan Silk pf (8)... Du Pont de N (14.70) Du P de N deb pf (6). Duques Lt 1st pf (5) Eastman Kodak (18) Baton Axle &S (3).. Eitington-Schild pf, Elec Auto Lite (6)... El Auto-Lite pf (7)., Electric Boat...... i ElPow& Lt (1) El Pow & Lt pf (6 El Pow & Lt pf (7).. El Storage Bat (5)... Endicott-John (5)... Equit Office Bldg (3) Erie R R. . v Erie RR 2d pf (4).. Rureka Vac Cleaner. Evans Auto Loading. % Fairbanks Co.... Fairbanks Co pf. Fairbanks Morse (3) Fashion Park Ass. 1 Fash Pk Asso pf (7).250s Fed Lt & Trac pf (6) Fed Motor Tr (80¢).. Federal Screw (3). Fed WatS A (e2.40 Federated Dept Stra, F'id Ph Fire In (2.60) Filene's pf (634). ... Firestone T& R (1). Firest T & R pf (6) .. First Nat Strs (33%). Fisk Rubber. Fisk Rubber 1 50s Fisk Rub 1st pf ¢ - 2 Follanshee Bros (2). Foster Wheeler (2) Foundation Co. Fourth Natl In: Frank Simon pf (' Freeport Tex (5. Gabriel Snub (A) n Gen Am T'k Car (34) Gen Asphalt (4). Gen Electric (1.60). . Gen Elec apec (60¢). Gen Food Carp (3). .- ‘Gen Gax&El A (e30c) ‘Gen G & El cv pf (6). GenG&EIpL A (T).. Gen Ital Ed (22.62).. Gen Mills (3) Gen Mills pf (6). Motors (13.30) Motors pf (5)... Gen Out Adv (A) (4) Gen Pub Serv (b6).. Gen Ry Signal (5). Gen Realty & Utll Gen R & Ut pf (e6 Gen Refract (t14%) Gen Theatre Equip. . Gfillette Saf Ras (n5) Gimbel Bros........ Glidden Co (1.20) Gobel (Adolf). Gold Dust (23%). 20% Goodrich (BF)...... Goodrich BF pt (7). Goodyear Tire (5)... Goodyear 1st pf (7).. Gotham Silk Hoslery Gotham S H pf (7). Gould Copper Graham-Pal, Granby Consol (2). Grand Stlver S (m1). Grand Unfon. ....... Grand Union pf (3) Granite Clty Stl (4) Grant (WT) (1), Gr North pt (5) Gr Nor ctf Ore (a%) . Gr West Sug (1.40).. Guantanamo Sugar Gulf Mobile & North, Gulf Mob & N pf (6). 1 1370 17 104, 95 2 408 186 34 Hackensack W (1%) 100s Hahn Dept Stores. .. Hahn Dept S pf (6%4) Hamilton Watch 1.80 Har Wk Ref (12%).. % Hartman Corp (B). Havana Elec Ry, Hayes Body..... B % Helma (Geo H) (7). Hercules Powd (3) ., Hershey Choe (5). . Hersh Choc pt (15) Hoe (R) &Co. ...... Holland Fur (et2%). Hollander Sons...... Homestake Min (7). Houdallle Hershey. . Houston O11 (b10%). Howe Sound (t4%).. Hud&Man Ry (3.50). Hudson Motors (3).. Hupp Motor Car (2). Illinofs Central (1).. Independ O & G (2).. Tndian Motor Cycle, . Ind MotorCyele pf. Indian Refining. . Ingersoll Rand (1 Inland Steel (4). Inspiration Copper. . Insurance Sh (46¢).. Interboro Rap Tran. Interbor Rap T c.o. Intercont Rubber Interlake Iron (1). Int Agricultural. Int] Cement (4). Int] Combustion. Int Comb Eng pf Int] Harvester (2%). Int Harvester pf (7). Intl Hydro El A (e2) 4 Intl Mateh pf (4).... Intl Mer Marine (2). Intl Nick of Can (1), Intl Paper pf (7) Intl Pap & P (A) 3.40 Intl Pap & Pow (C).. Intl Pap & P ot (1) Intl Printg Ink (2%) 33 .2 5 83 1 0 4 1 0 3 1 4 1 1 14 131 7 7 26 28 15 63 1 10s 17 2 1 45 2 114 2 7 136 532 7 1 Int Rys Cen A pf (5) .120; Intl Tel & Tel (2).... Inter Dept Strs (2).. Investors Equity (2) Island Cr Coal (4). Jewel Tea (14)...... Johns-Manville (3).. Jones&Laugh pf (7). Kans City Sou (5)... Kaufmann DS (1%) Kayser Jullus (214) . Kelly-Spring Tire, .. Kelly-Spring 8% pf. Kelsey Hayes (2)... Kelvinator Corp. ... Kennecott Copper(2) 4 69 208 1 26 106 306 121% 6315 5.2 STEEL MERGER SUIT 10 SET PRECEDENT Corporation Practices May . Be Affected by Decision 1 of Ohio Court. BY PRESTON S. KRECKER. Specig] Dispatch to The Star. I YORK, September 26.—Judicial 854 | decisians which may have a widespread bearing on corporation practices in the future, particularly in merger and con- solidatian proceedings, are the predicted outcome of determination of questions involved in the litigation to enjoin the proposed billion-dollar merger of the Bethlehem Steel Corporation and the Youngstown Sheet & Tube Co. After one of the longest corporation legal battles on record, the trial of that case has just ended. It began June 25 County Court, at Youngstown, Ohilo. The testimony taken in the trial covers about 10,000 pages. Seeking to estab- lish the legal rights of stockholders, the injunction suit to block the merger has raised issues which, it is said, have never been adjudicated by the courts before. Bonuses Questioned. One of the outstanding issues raised in this action which has attracted gen- eral attention is the legality of the bonuses which, the testimony revealed, were paid to officials of the Bethlehem Steel Corporation over a perioc of years, and, as a matter of fact, are being con- tinued. Eyes were opened in amaze- ment when it was learned that Eugene G. Grace, president of Betlilehem Steel, received a’ total salary and bonus last year of $1,635,753, and in the last five years has received altogethier $5,497,684 compensation. Assuming that the jurist presiding over the trial receives a $6,000 salary, he would have to work 272 years to the head of Bethlehem le ¥ur. It lor earn as much Steel drew more in a year, but in order to make such an income they usually must in- cur a certain risk of ible loss. In the case in question, however, the re- cipient incurred no risk at all. In that respect, therefore, his case is probably unique. It was further brought out that, al- together, executives of the Bethlehem Steel Corporation last year received in salaries and bonuses about $3,500,000, all of which was calculated on net earnings before depreciation and ahead of the common stock. president received 3.3 per cent of such net, it was testified. For several years, while officers of the corporation were receiv- ing huge bonuses, no dividends what- ever were paid on the common stock. No parallel for such bonus payments is said to exist in current corporation practice, and they are almost without Andrew Carnegie, years ago, disputed steel molmumumm.uug “boys” large bonuses, but he and associates were sole owners of the busi- ness and had the undisputed right to and continued almost without interrup- tion for 15 weeks in the Mahoning make such disposition of profits as they saw fit. The contention in the Bethl or consent of stockholders owning a large per cent of the shares. Other Legal Points. It is expected that the Ohio court in deciding the case will have soms to say about bng‘l:ru and the %flnfl under W] they may be 3 legal points of interest will be decided. One is the question of voting stock actually owned by others than the voter. Evidence was taken dt the trial showing m":: Ymmm“t;\ stock w; me) e names gl lddw'.lult stock before the and, therefore, had no personal stake at that time in the Youngstown company. Proxies are al- leged to have been bought, contrary to the laws of Ohio. It also is contended that proxies were issues on shares pur- chased solely to vote the proxies, after which the stock was sold. If no other benefits accrue from this bitter litigation, it may be that doubt- ful points will thus be cleared up and precedent. established to govern merger proceedings of the future, (Copyright, 1930.) - Do B.. Britisn Col Puid & 7 i Elec Pub Sery acuu Eosiien. Hiee Co. of Y (Syracuse r-’t'mmu‘ E & Do 6% 'pi..... . $1.80 Kelsey Hayes Wheel . 18 . 18 . 38 -20 .18 . 1 of . Liquid Lons Taiand Light- Paepcke_Cor, Penna wire " > ODD DOORKO O OO DOOED OO LOO OOOO D O POOOLL HO OO O OO DO O OLOOO POLOOW & O O OOOW DOO O p LOOLLP KD Do pf wi Ve Teablinn Gors Extra. Chapman Valve Mfg..31 .. Ini Abbotts Dairies new. g" Q ting. Sep. 24 Aus.38 Bep. 33 FRIDAY, SEPTEMBER 26, 1930. STOCKS IRREGULAR IN AGTIVE MARKET|: Trend Confused, Although %rum & Bear Party Has Apparently Become Cautious. BY CLAUDE A. JAGGER, Associated Press Pinancial Editor. NEW YORK, September 26.—The stock market made some progress toward recovery today, but the rallies met with little enthusiasm and were generally utilised to take quick and moderate profits. Selling of a few favorites, particu- larly Radio and Chrysler, tended to keep the trend rather uneven. A sharp dip after the opening was followed by an advance above the previous close, in which trading became less active, en- couraging the shorts to try other lines. | They found the support considerably | firmer than it had been, however, and] efforts at the down side became lese strenuous, suggesting that the bears feared overselling. Weak Spots. Chrysler and Radio were weak, and both made new lows, together with nu- merous olls and_coppers, notably Amer- ican Smelting, Kennecott, Standard of New York and Shell Union. Maximum gains of 1 to 2 points in United States Steel, Consolidated Gas, American Can, ‘Western Uniol International Har- vester, American Telephone and West- inghouse Electric encountered realizing which pared down the advances some- what. New York City tractions were ugain strong. The early selling was featured by a severe bear raise against Radio which broke to 28Y against its year's high of 68%. This move was accompanied by renewed pressure throughout the list and-by mtll? increased activity until support in U. 8. Steel checked the decline. Sales for the 30 minutes fol- lowing the opening exceeded 500,000 shares, a 5,000,000-share pace had it been main L The day's news from business was of little interest marketwise. Numerous August railroad statements continued to show declines, but the rate of the decrease in comparison with the same month last year was smaller than were the July ratios. Loan Situation. Quite the biggest surprise was the fallure of brokers’ hur;': to show a change in the week ended September 24. Although such a financial phe- nomenon had been seen once before— fi‘l’l June, l’l’i’d—fi‘e fact that ;1.0 varia- lon appea & period of sharpl declining stock prices was most unus\?ll)t The detailed figures revealed that while out-of-town banks and “others” had withdrawn, funds, doubtless because of unattractive money rates as well as for the meeting had been taken u by New York City member banks, i FOREIGN EXCHANGES, (Quotations furnighed by W. B. Hibbs & Co.) Nominal gold Selling checks ndon, pound. ris, franc russels, bei h, g , 1 At drachi Madrid, Dese Vi SILVER QUOTATIONS. NEW YORK, September 26 (4).—Bar silver, 3615 REAL ESTATE LOANS Made at Low Interest Rates e Ry on :;'vsy‘-"un“m-au oniness properiice. 5 or 10 years. if so desired. 1520 K St. N.W. National 0475 Several single offices and suites avallable at most rea- sonable rentals. esentative, il A5 Moore & Hill, Inc. 730 17th St. N.W. 1851 \.\“ 'NSUR 4” 1930 fi l?imfi:i:i‘ Masa,Q. (‘0 A Standard Low Premium Policy Business and l":;fenional Men Details on Request F. T. Koons, General Agent Union Trust Bldg. Nat. 1015 SALESMAN —to sell electrical adver- tising indoor displays on straight commission. Ap- ply Claude Neon Lights, Colorado Bldg. Public Service Corporation of New Jerse Dividend No. 93 on Com- mon Stock Dividend No. 47 on 8! Dividend No. 31 on 7% ‘Cumulative Preferred Stock Dividend No. 9 on §5.00 ‘Cumulative Preferred g‘he Board of Directorsof Publif Service r value Cumulative Preferred Stock, be- 1.25 per share, and 85 cents per share on the son par value Common Stoc Public Service Electric Gas Compan Dividend No. 25 on 7. ‘Cumulative Preferred Stock Dividend Ne. 23 on 6% Cumalative Preferred Stock FINANCIAL, INVESTMENT TRUSTS NEW YORK, September 26 (#).— Over-the-counter market: Amer Pounders . Amer Found STOCK INCREASE PLANNED. il NEW YORK, September 26 (#).—A | s&eclnl meeting of stackholders of the || 11 Telephone Co. of Pennsylvania has | been called for December 4 to vote on a a;u d _increase in capital stock to $250,000,000 from $110,000,000. The in- crease will be in common stock, which is to be issued only as needed for capi- tal expenditures to care for the growth of business, First Mortgage Loans In Arlington County and Alexandria, Virginia Commonwealth Investment Co., Inc. it. N.W. Phone Nati Loan Correspondent for 'rudential Insurance Co. T TRUST LOANS onable Rates 8 Courteous Treatment THOS. E. JARRELL CO. REALTORS 721 10th St. N.W. Nat'l 0765 Ballard Heating Service: Means Oil Burners Manufactured d Installed by BALLARD Continuous Free Service When Using Ballard Heating Oil Arthur H. Ballard, Inc. 1015 15th St. N.W. NAt'l 6131 Factory Branch Organized 1879 JOHN JOY EDSON, President Assets +.$5,723,083.61 Conscientious Savings! Do you Save consistently? 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